Dimensional Fund Advisors LP Purchases 45,523 Shares of The PNC Financial Services Group, Inc $PNC

Dimensional Fund Advisors LP increased its position in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 2.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,070,265 shares of the financial services provider's stock after purchasing an additional 45,523 shares during the period. Dimensional Fund Advisors LP owned 0.51% of The PNC Financial Services Group worth $430,694,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Parallel Advisors LLC increased its stake in shares of The PNC Financial Services Group by 2.9% in the 1st quarter. Parallel Advisors LLC now owns 3,547 shares of the financial services provider's stock worth $738,000 after acquiring an additional 99 shares in the last quarter. SEB Asset Management AB purchased a new stake in The PNC Financial Services Group in the first quarter worth about $34,910,000. Valley Wealth Managers Inc. grew its holdings in The PNC Financial Services Group by 0.7% in the first quarter. Valley Wealth Managers Inc. now owns 25,044 shares of the financial services provider's stock worth $5,211,000 after purchasing an additional 180 shares during the period. Mediolanum International Funds Ltd grew its holdings in The PNC Financial Services Group by 6.4% in the first quarter. Mediolanum International Funds Ltd now owns 143,604 shares of the financial services provider's stock worth $28,959,000 after purchasing an additional 8,634 shares during the period. Finally, Ascent Wealth Partners LLC increased its stake in shares of The PNC Financial Services Group by 2.9% during the first quarter. Ascent Wealth Partners LLC now owns 2,058 shares of the financial services provider's stock valued at $428,000 after purchasing an additional 58 shares in the last quarter. Institutional investors own 83.53% of the company's stock.

The PNC Financial Services Group Trading Down 1.1%

Shares of NYSE:PNC opened at $250.05 on Tuesday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.85 and a quick ratio of 0.84. The PNC Financial Services Group, Inc has a 1 year low of $176.88 and a 1 year high of $256.49. The company has a market cap of $100.41 billion, a P/E ratio of 13.76, a PEG ratio of 1.01 and a beta of 0.91. The stock's fifty day moving average price is $233.88 and its 200-day moving average price is $223.82.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $4.85 EPS for the quarter, topping the consensus estimate of $4.46 by $0.39. The PNC Financial Services Group had a return on equity of 12.48% and a net margin of 21.41%.The company had revenue of $6.66 billion during the quarter, compared to the consensus estimate of $6.51 billion. During the same period last year, the company earned $3.85 EPS. The PNC Financial Services Group's revenue for the quarter was up 21.4% on a year-over-year basis. Sell-side analysts expect that The PNC Financial Services Group, Inc will post 19.14 earnings per share for the current year.

The PNC Financial Services Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 5th. Investors of record on Monday, July 20th will be issued a $2.00 dividend. The ex-dividend date of this dividend is Monday, July 20th. This is an increase from The PNC Financial Services Group's previous quarterly dividend of $1.70. This represents a $8.00 annualized dividend and a dividend yield of 3.2%. The PNC Financial Services Group's dividend payout ratio is presently 37.42%.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 45,000 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $220.57, for a total value of $9,925,650.00. Following the transaction, the director owned 10,749 shares of the company's stock, valued at approximately $2,370,906.93. This represents a 80.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael Duane Thomas sold 1,500 shares of the firm's stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $238.14, for a total value of $357,210.00. Following the completion of the transaction, the executive vice president directly owned 5,059 shares in the company, valued at $1,204,750.26. The trade was a 22.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 48,300 shares of company stock valued at $10,694,574. 0.38% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on PNC. Barclays boosted their price target on The PNC Financial Services Group from $277.00 to $284.00 and gave the stock an "overweight" rating in a research report on Thursday, July 16th. Robert W. Baird lifted their price objective on The PNC Financial Services Group from $250.00 to $280.00 and gave the company an "outperform" rating in a research note on Thursday, July 16th. Truist Financial lifted their price objective on The PNC Financial Services Group from $257.00 to $264.00 and gave the company a "hold" rating in a research note on Thursday, July 16th. Weiss Ratings reissued a "buy (b)" rating on shares of The PNC Financial Services Group in a report on Wednesday, July 15th. Finally, UBS Group increased their target price on The PNC Financial Services Group from $263.00 to $288.00 and gave the stock a "buy" rating in a research note on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $265.50.

The PNC Financial Services Group Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC's core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.

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